NIKE, Inc. (NYSE:NKE) Shares Purchased by Ballast Inc.

Key Points

• Ballast Inc. increased its holdings in NIKE, Inc. by 21.9% in Q1, now owning 21,028 shares valued at approximately $1.34 million.
• NIKE reported better-than-expected quarterly earnings, with a revenue of $11.10 billion compared to the anticipated $10.69 billion, albeit marking an 11.9% year-over-year decline.
• JPMorgan upgraded NIKE's stock rating from "neutral" to "overweight," raising the target price from $64.00 to $93.00.

Ballast Inc. raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 21.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,028 shares of the footwear maker's stock after purchasing an additional 3,773 shares during the quarter. Ballast Inc.'s holdings in NIKE were worth $1,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AlTi Global Inc. raised its position in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the period. Cohen & Steers Inc. boosted its position in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after purchasing an additional 160 shares during the period. Peregrine Asset Advisers Inc. increased its stake in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after purchasing an additional 181 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after purchasing an additional 192 shares in the last quarter. Finally, Crew Capital Management Ltd. boosted its stake in NIKE by 1.4% in the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

NKE stock traded up $0.89 during trading hours on Tuesday, reaching $74.91. The stock had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The stock has a 50-day simple moving average of $70.20 and a 200 day simple moving average of $67.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $110.63 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company's revenue for the quarter was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analysts Set New Price Targets

NKE has been the subject of several research analyst reports. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Barclays increased their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Bank of America upped their price target on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Robert W. Baird boosted their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.